Garage, CalPERS Form Fund

Updated Aug. 2, 2002 3:38 p.m. ET

Venture-capital investment bank Garage Technology Ventures announced the execution of a $10 million investment agreement by the California Public Employees' Retirement System, or CalPERS. The investment will create the Garage California Entrepreneurs Fund LP, one of the 11 funds selected for CalPERS California Initiative Program. The fund will make investments ranging from $100,000 to $500,000 in several seed- and early-stage technology companies, primarily in California, with special emphasis on companies emerging from universities and research labs. Palo Alto-based Garage (www.garage.com) provides private-placement...